Attention, crypto community! 🚀 FTX and its affiliated debtors have announced that their reorganization plan under Chapter 11 will go into effect on January 3, 2025. This day will also be key for holders of allowed claims in the convenience classes.

🔹 Distributions: Payments will begin within 60 days following the effective date. It is crucial to complete KYC procedures and other requirements, such as tax forms.

🔹 Recoveries: A total estimated between $14.7 and $16.5 billion is expected, thanks to asset recovery.

What do you think of this development? Share your thoughts in the comments!